India and ADB Signed $65.5 Million Loan to Support Coastal Protection

The Asian Development Bank (ADB) and the Government of India signed a $65.5 million loan agreement in New Delhi to continue interventions to check coastal erosion on the Western Coast in Karnataka.

The loan is the Second Tranche of a $250 million financing facility under the Sustainable Coastal Protection and Management Investment Program. The financing will be used to address the immediate coastal protection needs and for strengthening institutional capacity of Karnataka’s Public Works, Ports and Inland Water Transport Department.
Important Takeaways from Above News for RRB PO Mains Exam-
  • Mr. Sameer Kumar Khare is the Joint Secretary of Department of Economic Affairs.
  • ADB Headquarters in Manila, Philippines.
  • Takehiko Nakao is the President of ADB.
Source- AIR World Service